Can I wholesale a HUD home?

4 Replies

My offer was accepted on a HUD home but I was not able to secure financing for the flip as I have my money in another property that is going on the market in a couple of weeks. Hard money lenders are asking me for around $10k down to finance the house and repairs. I was thinking of offering the house wholesale to assign the contract but I am not sure I can do that on HUD homes. Any help or ideas? I am fairly new on my 3rd flip.

Originally posted by @Juan Martinez :

My offer was accepted on a HUD home but I was not able to secure financing for the flip as I have my money in another property that is going on the market in a couple of weeks. Hard money lenders are asking me for around $10k down to finance the house and repairs. I was thinking of offering the house wholesale to assign the contract but I am not sure I can do that on HUD homes. Any help or ideas? I am fairly new on my 3rd flip.

If you feel like you have investors who would buy it why not ask them to partner with you or do a private loan? At the very least they could close it in your name and you then deed it over for a small fee. There are lots of people with cash looking to get into a deal. Try local facebook REI groups, REI meetups and craigslist.

 

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